The privatisation of British Rail did indeed begin under Thatcher, though she did so with reluctance due to the obvious need for ongoing subsidy. Sealink and the hotels were the first parts to go in 1984 (at much less than book value).

These were swiftly followed by a laundry company set up for the hotels, an internal ad agency, a travel agency, and the Vale of Rheidol railway which was privatised in 1989.